Vietnam continues to work on ensuring sustainable and balanced trade relations with the US, Prime Minister Pham Minh Chinh has said.

Strong currency inflows from trade surpluses and FDI will support the VND, while an adequate foreign reserve position will also allow the central bank to ease off its foreign currency purchases over the near term.

Vietnam is an important partner for US in ASEAN as well as a growing market for American exports and increasingly an important part of global supply chains for American companies, said the Chairman of the US-ASEAN Business Council.

New regulations shows that the SBV will reduce one-way intervention in the foreign exchange market.

The two leaders agree that a strong bilateral relation will bring benefits to businesses and people of the two countries.

In case the US unilaterally accelerates the process of imposing more tariffs on Vietnamese exports, this will no doubt cause negative impacts not only on bilateral trading activities, but also the two countries’ relations.

PM Nguyen Xuan Phuc assigned related ministries and agencies to continue working with their US counterparts on maintaining strong bilateral relations that would bring mutual benefits for the people and enterprises from two countries.

A devaluation of the Vietnamese dong will disrupt and cause severe consequences to the local economy, said an expert.

Vietnam said it maintains dialogues and consultation with the US to handle problems for mutual interest.